IMA Advisory Services Inc. Sells 468 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

IMA Advisory Services Inc. lowered its position in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 8.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,266 shares of the financial services provider's stock after selling 468 shares during the quarter. IMA Advisory Services Inc.'s holdings in Ameriprise Financial were worth $2,549,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. HighPoint Advisor Group LLC raised its position in shares of Ameriprise Financial by 0.8% in the fourth quarter. HighPoint Advisor Group LLC now owns 2,683 shares of the financial services provider's stock valued at $1,419,000 after purchasing an additional 20 shares during the period. Forum Financial Management LP increased its position in Ameriprise Financial by 1.4% during the fourth quarter. Forum Financial Management LP now owns 1,484 shares of the financial services provider's stock worth $790,000 after acquiring an additional 21 shares during the period. Ritholtz Wealth Management increased its holdings in Ameriprise Financial by 1.3% in the 1st quarter. Ritholtz Wealth Management now owns 1,761 shares of the financial services provider's stock valued at $852,000 after buying an additional 22 shares during the period. Apella Capital LLC increased its holdings in Ameriprise Financial by 4.1% in the 1st quarter. Apella Capital LLC now owns 581 shares of the financial services provider's stock valued at $275,000 after buying an additional 23 shares during the period. Finally, Adero Partners LLC increased its holdings in Ameriprise Financial by 4.3% in the 1st quarter. Adero Partners LLC now owns 610 shares of the financial services provider's stock valued at $295,000 after buying an additional 25 shares during the period. Institutional investors and hedge funds own 83.95% of the company's stock.

Ameriprise Financial Stock Performance

Shares of Ameriprise Financial stock opened at $537.38 on Wednesday. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 1.10. The firm has a market capitalization of $51.17 billion, a P/E ratio of 18.26, a P/E/G ratio of 1.14 and a beta of 1.23. The business has a fifty day simple moving average of $521.30 and a two-hundred day simple moving average of $511.23. Ameriprise Financial, Inc. has a 12 month low of $385.74 and a 12 month high of $582.05.

Ameriprise Financial (NYSE:AMP - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The financial services provider reported $9.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.08 by $0.42. Ameriprise Financial had a return on equity of 68.93% and a net margin of 17.14%. The firm had revenue of $4.35 billion during the quarter, compared to analyst estimates of $4.45 billion. During the same quarter in the previous year, the firm earned $8.39 EPS. Ameriprise Financial's quarterly revenue was up 3.6% compared to the same quarter last year. On average, equities analysts forecast that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial declared that its board has approved a share buyback program on Thursday, April 24th that allows the company to repurchase $4.50 billion in outstanding shares. This repurchase authorization allows the financial services provider to repurchase up to 9.9% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's management believes its shares are undervalued.

Ameriprise Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 19th. Stockholders of record on Monday, May 5th were given a dividend of $1.60 per share. This is a boost from Ameriprise Financial's previous quarterly dividend of $1.48. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date of this dividend was Monday, May 5th. Ameriprise Financial's payout ratio is presently 21.75%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on AMP. Piper Sandler raised their price target on shares of Ameriprise Financial from $423.00 to $434.00 and gave the company an "underweight" rating in a research note on Thursday, July 3rd. Raymond James Financial upgraded shares of Ameriprise Financial from a "market perform" rating to a "strong-buy" rating and set a $518.00 price target on the stock in a research note on Monday, April 7th. Morgan Stanley downgraded shares of Ameriprise Financial from an "equal weight" rating to an "underweight" rating and lifted their target price for the stock from $462.00 to $530.00 in a research report on Tuesday, July 15th. Wall Street Zen upgraded shares of Ameriprise Financial from a "sell" rating to a "hold" rating in a research report on Friday, May 30th. Finally, Royal Bank Of Canada raised their price target on shares of Ameriprise Financial from $565.00 to $595.00 and gave the stock an "outperform" rating in a report on Thursday, July 10th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $524.71.

Ameriprise Financial Profile

Ameriprise Financial, Inc, together with its subsidiaries, provides various financial products and services to individual and institutional clients in the United States and internationally. It operates through four segments: Advice & Wealth Management, Asset Management, Retirement & Protection Solutions, and Corporate & Other.

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